Recently, a series of data indicate that the photovoltaic industry is still in a period of high growth. The latest data from the National Energy Administration shows that in the first quarter of 2023, a total of 33.66 million kilowatts of newly connected photovoltaic power were added nationwide, a year-on-year increase of 154.8%. According to data from the China Photovoltaic Industry Association, the national inverter production in March increased by 30.7% month on month and 95.8% year-on-year. The first quarter performance of photovoltaic concept listed companies exceeded expectations and also attracted the attention of investors. According to statistics, as of April 27th, a total of 30 photovoltaic listed companies have disclosed their first quarter results, and 27 have achieved year-on-year growth in net profit, accounting for 90%. Among them, the net profit of 13 companies increased by over 100% year-on-year. Supported by this positive trend, the new energy track represented by photovoltaic technology has become active again after several months of silence. I believe that investors need to pay more attention to the long-term development logic of the industry while focusing on short-term performance. Over the past decade, China's photovoltaic industry has grown from scratch and has become a global powerhouse. The photovoltaic industry, as one of the symbols of China's advanced manufacturing industry, is not only an important engine for promoting China's energy transformation, but also a strategic emerging industry that China has achieved leading advantages globally. It can be foreseen that under the dual drive of policy support and technological innovation and transformation, the photovoltaic industry will gradually mature and achieve stability and progress. In terms of policies, the photovoltaic industry, guided and supported by national policies, is comprehensively moving towards a fast lane of development. Over the past decade, the scale of China's photovoltaic market has continued to expand, and the new installed capacity has continued to exceed historical highs. In 2022, the output value of China's photovoltaic industry (excluding inverters) exceeded 1.4 trillion yuan, reaching a historic high. Recently, the National Energy Administration issued the "2023 Energy Work Guidance", which stated that the new installed capacity of wind and photovoltaic power in 2023 will reach 160 million kilowatts, continuing to reach a new historical high. In terms of technological innovation, China's photovoltaic industry continues to make breakthroughs in key core technology fields. Relying on independently controllable patented technology and scale advantages, the cost of power generation has decreased by about 80% compared to a decade ago, with the highest decline among various renewable energy sources. In recent years, supporting enterprises in various links of the photovoltaic industry chain have developed rapidly, continuously achieving breakthroughs in key core technologies of the photovoltaic industry through technological innovation, and occupying market share. For future development, the leading photovoltaic listed companies have clearly stated that the industry will maintain good growth in the medium to long term. It is advisable to look at the length of the scenery. Having a strong photovoltaic industry is crucial for China to achieve the "dual carbon" goal. We have reason to believe that the photovoltaic industry will develop in a healthy and orderly manner within regulations, and listed companies will also achieve higher quality development through continuous technological iteration and updating, enhancing product market competitiveness and brand value. (New News Agency)
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Securities Dairy
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